Cannell & Spears LLC Trims Holdings in The Goldman Sachs Group, Inc. $GS

Cannell & Spears LLC decreased its holdings in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 12.1% in the first quarter, HoldingsChannel reports. The firm owned 6,011 shares of the investment management company’s stock after selling 825 shares during the quarter. Cannell & Spears LLC’s holdings in The Goldman Sachs Group were worth $5,005,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Vanguard Group Inc. lifted its stake in The Goldman Sachs Group by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 29,014,431 shares of the investment management company’s stock worth $25,503,685,000 after acquiring an additional 418,820 shares during the period. State Street Corp raised its holdings in The Goldman Sachs Group by 2.1% in the 4th quarter. State Street Corp now owns 19,564,783 shares of the investment management company’s stock worth $17,197,444,000 after purchasing an additional 394,198 shares in the last quarter. Fisher Asset Management LLC raised its holdings in The Goldman Sachs Group by 1.7% in the 4th quarter. Fisher Asset Management LLC now owns 6,771,556 shares of the investment management company’s stock worth $5,952,199,000 after purchasing an additional 110,134 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of The Goldman Sachs Group by 0.7% in the 4th quarter. Geode Capital Management LLC now owns 6,726,721 shares of the investment management company’s stock worth $5,896,795,000 after purchasing an additional 45,266 shares during the period. Finally, Bank of America Corp DE boosted its stake in shares of The Goldman Sachs Group by 3.4% during the 4th quarter. Bank of America Corp DE now owns 5,978,034 shares of the investment management company’s stock valued at $5,254,692,000 after purchasing an additional 194,109 shares in the last quarter. Hedge funds and other institutional investors own 71.21% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on GS shares. Morgan Stanley set a $1,145.00 price target on shares of The Goldman Sachs Group in a research note on Wednesday, July 15th. Wall Street Zen raised The Goldman Sachs Group from a “hold” rating to a “buy” rating in a research report on Saturday, July 18th. Barclays increased their price objective on The Goldman Sachs Group from $1,048.00 to $1,245.00 and gave the stock an “overweight” rating in a report on Wednesday, July 15th. Rothschild & Co Redburn raised their price objective on The Goldman Sachs Group from $870.00 to $920.00 and gave the company a “neutral” rating in a research report on Thursday, June 25th. Finally, Zacks Research upgraded shares of The Goldman Sachs Group from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 16th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $1,061.43.

The Goldman Sachs Group Stock Performance

The Goldman Sachs Group stock opened at $1,059.81 on Friday. The Goldman Sachs Group, Inc. has a twelve month low of $694.05 and a twelve month high of $1,153.99. The company has a quick ratio of 0.63, a current ratio of 1.11 and a debt-to-equity ratio of 2.83. The company has a market capitalization of $312.65 billion, a P/E ratio of 16.36, a PEG ratio of 1.08 and a beta of 1.30. The stock’s 50 day moving average is $1,047.33 and its 200 day moving average is $951.92.

The Goldman Sachs Group (NYSE:GS) last announced its quarterly earnings data on Tuesday, July 14th. The investment management company reported $20.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $14.47 by $6.51. The Goldman Sachs Group had a return on equity of 18.59% and a net margin of 15.53%.The business had revenue of $20.34 billion during the quarter, compared to analysts’ expectations of $16.22 billion. During the same quarter in the previous year, the business earned $10.91 earnings per share. The firm’s quarterly revenue was up 39.4% compared to the same quarter last year. On average, equities research analysts predict that The Goldman Sachs Group, Inc. will post 68.83 earnings per share for the current fiscal year.

The Goldman Sachs Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 1st will be issued a dividend of $5.00 per share. The ex-dividend date is Tuesday, September 1st. This is a boost from The Goldman Sachs Group’s previous quarterly dividend of $4.50. This represents a $20.00 annualized dividend and a dividend yield of 1.9%. The Goldman Sachs Group’s dividend payout ratio is 27.78%.

Trending Headlines about The Goldman Sachs Group

Here are the key news stories impacting The Goldman Sachs Group this week:

• Positive Sentiment: Goldman Sachs was highlighted on a momentum screen using the Driehaus strategy, with strong earnings and favorable price trends supporting the stock’s bullish setup. 3 High-Momentum Stocks to Buy Now Before They Surge
• Positive Sentiment: Investors are reacting to follow-up coverage on Goldman Sachs’ blowout Q2 results, with articles pointing to continued earnings momentum and the potential for further upside after the record quarter. What’s next for Goldman Sachs after its blowout Q2 earnings?
• Positive Sentiment: Goldman Sachs is expanding into private markets for wealthy clients, including access to pre-IPO opportunities, which could open a new revenue stream and strengthen its wealth-management franchise. Goldman Sachs Wants Its Wealthy Clients in on the Next SpaceX Before It Goes Public
• Positive Sentiment: Goldman Sachs’ CEO also backed the Senate’s CLARITY Act on crypto market structure, signaling support for clearer rules that could benefit its digital-asset and trading businesses over time. Goldman Sachs CEO backs ‘not perfect’ CLARITY Act as vote expected soon
• Neutral Sentiment: Goldman Sachs also appeared in several analyst and market commentary pieces calling it a strong momentum or long-term stock, reinforcing positive sentiment but without adding new hard catalysts. Goldman Sachs (GS) is a Great Momentum Stock: Should You Buy?
• Neutral Sentiment: Macro headlines about rising oil, inflation concerns, and a stronger dollar may be creating some offsetting caution for the broader market, though these are not Goldman-specific negatives. Global Inflation Angst Is Back With $100 Oil and More Tariffs

Insider Transactions at The Goldman Sachs Group

In other news, CFO Denis P. Coleman sold 6,857 shares of The Goldman Sachs Group stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $973.55, for a total value of $6,675,632.35. Following the completion of the transaction, the chief financial officer owned 31,070 shares of the company’s stock, valued at $30,248,198.50. The trade was a 18.08% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Sheara J. Fredman sold 10,301 shares of the company’s stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $929.17, for a total transaction of $9,571,380.17. Following the completion of the transaction, the chief accounting officer owned 6,338 shares in the company, valued at approximately $5,889,079.46. The trade was a 61.91% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 31,450 shares of company stock valued at $29,668,201 in the last quarter. 0.55% of the stock is owned by insiders.

The Goldman Sachs Group Profile

The Goldman Sachs Group, Inc is a global investment banking and financial services firm headquartered in New York City. Founded in 1869 as a commercial paper business, the company has grown into a diversified financial institution that provides a broad range of services to corporations, financial institutions, governments and individuals. The firm is led by Chief Executive Officer David M. Solomon and operates across major financial centers worldwide.

Goldman Sachs’ core businesses include investment banking, global markets, asset and wealth management, and consumer banking.